BUSINESS: EOH Sets the Tone for 2011 with Remarkable Results
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Significant interim results for six month period ended 31 January 2011 confirms EOH’s position as one of South Africa’s top three IT service providers and most consistent performers.
Group revenue increased by 44,8% to R1 139,7 million (2010: R787,3 million)
Profit before tax increased by 49,5% to R109,1 million (2010: R73,0 million)
Earnings per share up 37,1% to 96,4 cents (2010: 70,3 cents)
· Headline earnings per share up 37,4% to 96,2cents (2010: 70,0 cents)
· Cash up to R228,4 million (2010: R213,0 million)
EOH, one of South Africa’s top three IT service providers and largest enterprise applications provider in South Africa, has set the tone for 2011 with remarkable interim results for the six months ended 31 January 2011. The company aims to continue growing organically and via strategic acquisitions and views business process outsourcing, managed services and cloud computing services as key growth areas. It also intends to make major inroads into the Public Sector.
EOH reported revenue growth of 44,8% (R1 139,7 million), an increase in profit before tax of 49,5% (R109,1 million), an earnings per share increase of 37,1% (96,4 cents) and an increase in headline earnings per share of 37,4% (96,2 cents). “These are solid results and are attributable to a combination of both organic growth (66%) and acquisitions (34%)”, says EOH Chief Executive Officer, Asher Bohbot.
EOH operates as an integrated business providing IT services, software sales and maintenance and infrastructure products and services across major industry verticals. “Through this multi-faceted approach, EOH continues to create value and architect change through its range of consulting services, provision of technology services at a strategic, operational and tactical level and its broad range of outsourcing service offerings,” explains Bohbot.
He says that it’s the company’s commitment to its business philosophy that makes EOH successful. EOH attracts the best people, partners with customers and technology providers for life, focuses on professionalism and getting it ‘right first time’ which ensures profitable growth.
Bohbot says “EOH is well positioned to provide cloud computing services and views this as a major growth area. We have our own infrastructure, all the necessary applications, IT management technology and the integration and security skills in-house.”
EOH is also driving its service offering into the public sector, particularly in the areas of health, education and local government. According to Bohbot, EOH is also looking to extend its services into Africa and to provide further off-shoring services to Europe from South Africa.
EOH has 30,7% broad-based effective black ownership. Of the group’s over 2 300 employees, 44,4% are black as is 60,0% of the board. EOH has an ‘AA’ BEE rating and is a level 3 contributor. EOH is committed to inclusive transformation involving all its people and stakeholders and will continue along this path. EOH’s corporate social investment initiatives are extensive and focus on improving the teaching of maths and science in many schools in Gauteng.
Business News Sector Tags: Finance| Business|